Middle East Economic Survey


No 46


IEA Reduces 2006 Oil Demand Growth Forecast On Lower 3Q06 Asian Demand

The International Energy Agency (IEA) has reduced its forecast of 2006 oil demand growth to 900,000 b/d from 1.1mn b/d in last months outlook, but maintained its 2007 growth expectation at 1.4mn b/d (MEES, 16 October). In its latest monthlyOil Market Report, published on 10 November, IEA says: Global oil product demand growth has been slightly lowered in 2006 to +1.1%,...